PFG Advisors Trims Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

PFG Advisors reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,958 shares of the oil and gas producer’s stock after selling 3,776 shares during the quarter. PFG Advisors’ holdings in Enterprise Products Partners were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in EPD. Barclays PLC boosted its position in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. FMR LLC boosted its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $30,746,000. Strategic Financial Concepts LLC boosted its position in shares of Enterprise Products Partners by 3,884.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock valued at $21,414,000 after acquiring an additional 665,716 shares during the last quarter. Finally, Fisher Funds Management LTD bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $13,599,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $33.54 on Friday. The firm has a market cap of $72.63 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The stock’s fifty day moving average price is $33.23 and its 200-day moving average price is $31.40.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.38%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EPD. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank lifted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Barclays lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.